MT5 and Split MM does not work

[lasse]

I'm really pissed off as I just realised that MT5
doesn't let me open 2 equal sized positions with the same entry and stop but different
take profits. It just puts them together, drops the smaller TP and uses the bigger TP
for the whole position.
I don't know weather this is a general behaviour of the programme or just a problem on my personal
installation, but I wanted to warn you for the case anyone thinking about switching from MT4 to MT5.




UPDATE: I just found out that this is indeed a genereal MT5 thing. So Split MM isn't possible in MT5 at least not
with automated TP's. The only way to get it is to close have of the position manually. That sucks.

 

[vasude]

you can contact your broker.

 

[lasse]

Thanks vas, I did that...

But in the meantime I figured out how it works in mt5:

Due to the fact that always only 1 position per instrument is allowed, one can take partial profit by setting a another buy/sell order at the desired price. So if I'm long with 2 lots and set a 1 lot sell order at 1:1, one lot of the position will be taken out at 1:1 and reduce the overall position by 50%.

Just tested that on a demo account, it works.

The problem is, one cannot set up the whole thing at once. You can only set the partial close order if you're already in the trade. Otherwise MT5 would just execute the order which gets hit first and you can end up beeing caught in a position you did not want.

 

[syed]

Thanks vas, I did that...

But in the meantime I figured out how it works in mt5:

Due to the fact that always only 1 position per instrument is allowed, one can take partial profit by setting a another buy/sell order at the desired price. So if I'm long with 2 lots and set a 1 lot sell order at 1:1, one lot of the position will be taken out at 1:1 and reduce the overall position by 50%.

Just tested that on a demo account, it works.

The problem is, one cannot set up the whole thing at once. You can only set the partial close order if you're already in the trade. Otherwise MT5 would just execute the order which gets hit first and you can end up beeing caught in a position you did not want.

Thanks Lasse this is helpful!